Aug 3, 2015|
Full Show 8-3-15 by The Financial Exchange
Transcript - Not for consumer use. Robot overlords only. Will not be accurate.
I. And this is the plane then she'll exchange we've Barry Armstrong. You're screwed stay on top of breaking business news and learn how to manage your money to help you towards a more secure future he'd still find mention exchange with the euros. Barry Armstrong. It's a busy Monday and it is going to be a busy week my cohost today is Susan power tonight. Hope your ready for action today Susan you know lack unloaded. And rated it. Let's start off with a lot of sales we got auto sales data and it started to break this morning on Tennessee around 7 AM. First one Fiat comes in now Fiat of course you have to remember Fiat owns Chrysler and Chrysler owns G. Well this company's being bolstered by the sale of jeeps the Jeep brand doing very well not only in the United States but worldwide so Fiat sells very strong Nissan's sales. Very strong. Ford. Holy smokes Ford had their strongest vehicle sales in nine years that's really good news for Ford and they're selling vehicles across the work. The T make the Ford F 150 fast enough you walk into a dealer I'll tell you what these no negotiation. When it comes to buying a Ford F 150 demand very high. In that must be spilling over to General Motors because. General Motors was expected to have flat automobile sales General Motors and backed their sales were up six point 4%. And that was just an an astounding beat their stock being rewarded for that. Performance. On the day. Let's take a look at other idea that we're going to be looking at we had. Consumer income up point 4% that was better than had been anticipated. And we had spending up only point 2% so it's interesting to seize. People or make it more money but they're not spending. Susan are they are not I I personally have no problems spending more money you're doing your share I am I am doing my share and I can't say I've been thinking about trading in my car and looking at the G. Aria yeah well after last winter right now. Why wouldn't it you need you need to four wheel drive the all will drive now but deep as one that is a serious contender for me so I could be adding to their to their earnings report next time all right and then TomTom. Announcing member of the Tom Tom that was the old GPS system that we would have and our vehicles yet they announcing today that they're considering putting themselves up for sale meaning. Nobody's buying their devices anymore what they have is a good tracking device. Weeks Nokia being purchased the that was it Audi and Volkswagen bought Nokia movement it. In applying for their mapping services some automobile manufacturer will probably buy Tom Tom in this just further evidence that we're moving towards fully autonomous vehicles. On Rhonda drowsy. Polish. She is one toxic man. Did you did you intensified on I did not have a fact of you need you one of the guys that paid sixty bucks now how well now. But I don't wasn't an alas like thirty seconds is 34 seconds it's worth the money. It was on periscope so this is a really this was. Pirated. Across the board periscope proving to be a real problem. For these paper view fights it was sixty dollars to get aroused to fight right imagine you paid sixty bucks and it literally it lasted thirty. For sacked 62 set to appear in mentally do you expect the last almost 142 point I know it's gonna be. And I don't know if the deal with the word was that this Brazilian fighter was really strong and aggressive and use gonna do it you know fuse gonna do well. While I watched it and I don't think Rhonda got hit at all. I don't think she is yeah very closely I don't post I don't think she got out of the base the other girl laid a glove locker. So. Put think about what that does for the business model. Of paper view by. This whole advent of periscope and it was posted on FaceBook within seconds and if you had a buddy that was watching the fight here if you run periscope. It pair we should tell you are scopus per scope is basically. Me and app you can download on your phone. And you can broadcast. Whatever it is you're either watching on television lights streaming or cured an event to write that if you're your son's baseball game Susan. You could. Our scope that teams are your parents that say they're in fort re right you could be in Paris books are scope that it Europe patriots game and right. And you could be Paris scoping bag team using the patriots Wi-Fi. To broadcast the game hard your rights act either in any event. Any event but people were doing it for this fight and I just don't know and is a lot of litigation pending. There is Lisa are a lot of it the last time with what is the Mayweather fight they had the same thing going on my bit and in what. Has been kind of used initially as a grassroots efforts with all these stadiums. To get the word out of this is wearing and this is what's going on look at the PGA they have they have outlawed the use of this periscope except by the air personnel right so there's a lot going on that it's. You know they they have to these Arenas they have to keep up with the times in the technology. I don't know how they're gonna do with it you know like for pay per view fight the east it's a huge problem as you've got. You you know your banking on those people paying to watch that fight that's where the money can't turn right. Imagine people paying to watch a woman fight would you have ever thought right when you think give back ten years ago. That somebody would pay sixty dollars to watch it won't because women fighting. And it's new is an. I think relatively new I think eight it's always been a difference certainly not mean stream like you know. Than guys that are fighting with these new. She's become a cult hero parrot in the ring with any due any day in my money is on her oh I don't know I've seen a top. He is one option would you wanna get in the ring whether Barry don't but I believe that I'm tired men in time there. It felt so we're not cutting it up. Wrote to me men that would ultimately not many at all hey there's a new driveway software. That. Rates driver's seat and I think this is a brilliant think this is something Susan that you can use to monitor the. Driving habits of your boys when they are old enough to India precise I think this is really cool there so it's as if this company is called there and there's software it's driveway software they've just raised ten million dollars in a round of funding in it gives drivers parents in insurance. Information about driving habits of right now they're primarily feeding this information to insurers so that vacancy. You mean you've seen the progressive thing with flow trying to get those wrote tracking and I think that that's the same technology so. But I would do this in an absolute heartbeat to say wait a minute you're not taken my Kyra because I can see how you giving you went through that stop sign in see how fast on. On the freeway and such a. Big problem for parents you feel you you wait until you see how many. But your kids' friends who are sixteen and seventeen year old seventeen years old. Have car accidents it's amazing. They're almost 33000. People in the United States died in car accident. And a lot of them are due to. Texting distracted driving a lot of them are due to young kids just aren't good drive I meant to share a few last week I was had Neptune New Hampshire. And we look to my right in the driver early my age and looking down his phone texting and looked like his girlfriend was and the pastor seat text and now what all the health watchable are all right will just go out there is no co pilot their obstacle. Thirty on the highways and now you see it all the time if you're driving around New England driving around anywhere right people are distracted they're driving. This would be a mechanism right you'd be able to tell with this mechanism if you put this on your kids well. You'd be able to tell if they were texting while they're driving you'd be able to tell they were speeding you'd be able to tell witty work we have been quote data go to my girlfriend's house over illegal wiry over Jamie's house in New Orleans it's. May be Negroponte put it on well it's it's important to I meet with young kids out tight. He it's you'll see it is you is you're raising kids but when you get kids that are sixteen to nineteen years old. Boy just the don't have the experience there then they're distracted on top of being an experience by their cellphones. I I think this is brilliant and I hope that this is something that's available soon. Very soon and you know what I I know how I was when I first started driving in we didn't have cell phones so fine on how easy it is to be distracted. Even now how easy is to be distracted if you're here in the farming army just glance at it via a facilitate. Notes it's a big problem they we're going to be talking about draft kings in the next segment. And Tucker and ask you to come help us understand better what draft kings is all out I've signed up Morton I have to confess. I have an open I haven't put money in my account right and I haven't used that serves I know you do yelled at to the other day actually all right taught it tell us. Brought in layman's terms and would drafting is all about here's why. We're going to be joined by key white heat from the national council on problem gambling he's talked about. His perspective on drafting don't know yours right so tracking has basically fancy sports across all four sports. In what you do is you select your preferred players for the day. Based off of their given salaries and with that you buy into different contests lobbies and that's how they justified the whole thing is it's a contest based on scale. So the other day I played a contest. Three dollars and my money worth in African at first or walk away with a 100000 dollars I came in forty. This isn't what is the co president. But yet it pretty much the premise. But it sounds to me like wager sounds like a tomato well we might denying that but it's not. Great Google lost its skill game important to them so we are going to be joined by key light from the national council on problem gambling he's got to talk to us about drafting sales of one hear your perspective on this. Our text number is 68060. A look financial exchange radio network. Mortgage rates are still at an all time low and makes sense to take advantage of these rates with your refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders in New England with -- very competitive rates ask their experience staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work -- leader bank calling 776917900. Or -- leader bank dot com leader bank went over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. They're the true experts -- mortgage financing deal with -- local bank today and call 8776917900. Or email -- loans as a leader bank dot com visit leader banks were all your home buying or refinancing -- 8776917900. That's 8776917908776917900. Or -- leader bank dot com. The decision of whether to accept an early retirement offer is not an easy one to make it may sound like a dream but there are tax and retirement plan implications that must be considered if you're not 59 and a half you may be -- with steep penalties for withdrawals from your retirement accounts will your employer paid for medical insurance or will you foot the bill until Medicare begins what will be the impact of an early retirement be on your pension and Social Security can you afford to retire now and if so how much income what you need and where will it come from Armstrong advisory group has made available free guide called evaluating. An early retirement offer here's the phone number 8668106. Or two to let us help you make an informed decision call Armstrong advisory group now at 8668106. Or two to. You're keep up with the securities America gang member in SIPC advisory services up with the securities America advisors and Gary Armstrong representative Armstrong advisory group in the securities America companies are not affiliated please consult with your quote a tax expert for any activity concern. There are strong here and I'm joined today by estate planning attorney Todd let's be from the law firm of Cushing in Dolan. With your legal exchange quick tip of the day we're talking about the different waste owned real estate but I wanna talk about strictly rental properties commercial properties it's that. For family house they have near Yale it's the three family that you had your holy cross you know the properties that are over near Boston College rental properties sure how does one old nose and still protect themselves the biggest problem with rental property is the risks of a lawsuit to slip and fall the party's someone got hurt you know dropped if you own your own name folks and their eagerness to use the property owner -- directly and if they shouldn't you directly into a single after every. Asked you owning your own name your other vacation homes and home ever owned your commercial properties personally owned them in an LLC that the key I would set it up and some kind of a limited liability company throw in there and in Chile and if you're liable you're gonna lose is that one property. Yes let's play out the straight when it's an it company like that in the lawsuit. Happens and they're gonna sue the company and not you personally that is otherwise you could lose your your savings account you can lose your home you could lose your retirement accounts this way since they're suing the company they can only get what's inside that company I've got it and not any of your personal assets source always the way to go make sure you have the property protected and even and make sure you still have an umbrella coverage still very important to have umbrella insurance to provide an offset the creditor protection learn how to own real estate specifically we're talking about rental properties let's say you do on that two family house don't own it in your own personal name at least that's our place called Cushing and Dolan and get their new guide called the risks and rewards of real estate ownership their phone number is toll free 86684856998668485699. The phone call is free and the guide is very valuable 8668485699. Securities offered through securities America income member finreg SIPC an advisory services offered to securities America advisors in carry on strong representative Armstrong advisory group in the securities American companies are unaffiliated. Follow along and interact with the financial exchange on FaceBook. Give up FaceBook dot com slash the financial exchange this is the financial exchange radio networks. Those of you who are familiar with the draft kings maybe your customer make your consumer of their service I'd like to know. Do you consider it to be gambling. 413 texted and instead it's gambling but the NFL. MLB and all the organizations will support daily. Fantasy sports because it promotes the gaming get young people interested in watching lot of truth to that statement does not affect the New England Patriots. Have participated in four rounds of fundraising. For drafting them or not the patriots themselves with the Kraft group which is the owner. Of the patriots we're joined now by Keith why he's the executive director of the national council and council on problem gambling hi Keith. Good morning so let me ask from your perspective right you've you've studied these. Gambling problems in the past is draft kings a gambling website. Well unquestionably. A lot of people using it as such and it Faris were concerned. The psychological definition of gambling if you will yeah April definition of gambling. And I would doubt it would addiction could it does not necessarily skew with the legal definition so Amy you know it may well be many will be treated does not legally. Satisfying definition of gambling. But in terms of B behavior in terms of the addiction it is unquestionably. Camp would neither is prized their chance their consideration. Right now so. Tell us maybe some instances that you observed with customers have draft kings either. Developing a gambling problem or maybe it's a problem gamblers that went there and the problem got worse. I think that's exactly right I think desert that cute things there where there were concerned about wind is it there there it is. Significant overlap between. People who like to gamble on sports. And people who are willing to play daily and at the you know for for high stakes and so we suspect it's dumb. Probably small percentage of their customers. Are coming to them with an existing gambling problem yet they're active bettors are ready. And they also plea deal we can see they're probably he some of them probably about half an addiction already. And I think in the second case as he stayed maybe someone who is not not been much better in the past or someone who just you know for whatever reason. It's not a not a problem. But that. The structure of respect especially daily fantasy he has led them to develop a problem and we have we have examples. Those. Pathways if you will. In treatment right now with with severe gala promptly lost tens of thousands. Dollars. Do it at the end in ways that was. Very damaging to damage there and him as their their personal and financial health. Is there any limitation on how much money you can lose on one of these web sites do they monitor and do they look and seek out problem gamblers. Well at an educated as starters that specific certainly trafficking and other they're headquartered you know in Boston. This is that there medium immediately and it site traffic and the biggest so went out. That's fine which companies involved in. You know that the folks that we've seen it come and treatment. Active law in very short span of time. Well over 2000 dollars apiece. I don't know yet what limit you know there is it to my knowledge miners stay there I don't know that there are. Because of course again this is it may not be. League it's not legally regulated as gambling and so. Many of their protections and safeguards that you have even there was limited if there's no place for illegal regulate gambling are not present. Ford via option DFS sector. Where does somebody get treatment for gambling you like I'm familiar with alcohol or drug rehab but where where does go somebody go for gambling rehab. The good news is that yet there is help and hope. The bad news is there's not a lot of available or four gambler so. It it is a lot like other addictions it's it's classified as such by the American psychiatric association. So you know there are still poker like gamblers anonymous. There are certainly counselors that are trained him in various types of talk therapy. And right around that other rise in their medications that are available to help. Help. Stop or cut back on the creepy if people laughed because much like other addicts. Becomes not about the substance alcoholics structured is they love the taste and injured because in their bodies become adapted to date haven't psychological physical need. And gambling addicts. Same wave which damaged the actions it I would note hated it you know its financial professionals. This can also happen people who trade stocks. The futures and options so you do it it's that need to be need to have the scene. At risk need to be treating her Christina or gambling you know it's not the actual winner law. The action action of the that you thank you very much appreciate TypeKey. He polite national council on problem gambling they've got a little bit of pro they're facing litigation Susan as a relates to the week. If the the advertising astute call it talk with they do. Is I'm assuming your not on the sites that I am not an ethnic and did that commercial this week. With the with what I've observed then doing as the technique is they offer you free money. Not really Fremont the niece they view it when I opened my account they said deposit 500 dollars and will match your 500 dollars but that's not entirely true. That is. At least on the surface it's not true you have to gamble quite a bit to get any free money sure from from the site yet to gamble more than 500 Austin it's not like you put 500 dollars in your count. In all of a sudden there's a matching 500 dollars on your junior college eagle and it house. Writes it's a little misleading and their part so attacker usage you UBS. You whenever you won this past week at a dollar three dollars yes so what's the typical I mean there's little Rangers Rangers I've seen from small is you know block. Who you know larger payouts where you have to buy in at 12100 dollars. A yeah it ranges it's a wide range so. They're trying to get everybody to place them. And they're doing a good job I mean they're clearly the leader on the fan in this category right. The I've just not a gambler in at least on that ash gambling he said it in the stock market but I don't gamble. With in in the game of chance and it like end. Net. Affect you ahead of the game behind the game the year investments so far draft it's ME even. I guess that's me you know that audiences and I. He's a when he sent somebody says there even that's where Maya yeah. Probably not so you need to know when to walk away on them like I do it went by year's legally counted casino. I'll just Earl I'm Bernard cabins plain black and grants and as black ships her. At least had the is that Howard naked little football right around corners on the data via hot having intra and so neat. That will be watching too much because there at their big season is coming it's clearly via baseball's big but nothing like football this so many contests every NFL Sunday it's a believable. Greek stock market opened last night soon as it opens goes down 23% across the board in the bank stocks was down 30%. Yet down to it finished down 20% and closed since June 29 anytime something's gonna be closed that you know it's an implement. In if you look at over the last twelve months it's down 47%. In the ice and not a good day today for them although they are opens I guess that's the simple line that's a start in what it was inched into watches the bank stocks went down the maximum they were allowed to go down which does not bode well. Her Greek banking institutions it's nothing there. It you know they're gonna be the first ones to go and in the event. Overall default which is looking more and more likely. When we come back we're going to be taking a look at BMW dime Wheeler and Audi they have. Clinched their purchase of a mapping business. I think this just proves that we're moving towards Thomas vehicles but. We'll talk about it and we'll. Take a look at some your text messages as well when we return this is the financial exchange are tech's number 6868. Can cope with the financial exchange. Hugh. Download the mobile app by surging financial exchange in the iTunes or Google placed door from the financial exchange radio network. If you're landlord pay attention that first of the month rent day tied chased down late payments and organize your files per trip to the bank now you can take back all that we had time with something called C ranked leader bank's new product easy rent automatically deducts. Tenant rent and deposit it into the landlord to count making red ate one less thing to worry about visit www. Z rent dot net now to learn more no more checks or trips to the bank no more rent payments to lead or lost in the mail tend to pay nothing and for the first six months it's free for landlords. Landlords go to www. C rent dot net to sign up. Then invite your tennis so they'll never worry about late payment again visit www. He rent dot net to learn more call 7816. Or 180 or 91 sign up hers he rent that day and take the hassle out of right date for everybody. This is very are strong and I'm joined today by estate planning attorney Todd luck ski. From the law firm of Cushing in Dolan with your financial exchange quick tip of the day we're talking today about. The top misconceptions. About Medicaid irrevocable trust I'll tell you what Todd this is something I hear every April. And that is here's a great fear among listeners that they're going to have to pay higher taxes if you transfer your assets. In two and irrevocable trust is that true or not true. It is not true but again I hear like you here I get calls from the accountants. Opens the accounts they can't tell that the trust is what we call a grand tort trust for income tax purposes by just looking. So they give us a call we let them know let me explain. Yes it is very true that there are kinds of irrevocable trust out there. That if not grant torch trust will be taxed at a much higher rate. Then individuals. When I say a higher rate they don't actually pay higher rate at their rates are compressed and until after 121000 dollars of income can you imagine being at the tip top rate for income tax purposes not happy with that. These trusts we make our grand tort trusts which in English means that. Mom and dad the creators of this trust are considered the owners of the trust for income tax purposes which means any interest dividends Rand capital gains. That are generated inside the trust during the year. Are simply reported on your personal income tax return just like before as if you've never done the trust. Get the facts as it relates to protecting your assets from long term care expenses. Request this brand new guy from Cushing in Dolan. It's called the top misconceptions. About Medicaid irrevocable trusts here's the phone number 8668485699. Toll free 8668485699. That's toll free 8668485699. Advanced state planning has many Bennett. Including avoiding probate passing your assets along to your bloodline protection from the nursing home and my favorite possibly eliminating the estate tax type folks this is very Armstrong from the financial exchange each week pod but a partner with the law firm Cushing handle and educate our listeners like telling them how to protect your assets from the high cost of nursing homes a state planning has many benefits including helping you to not impoverish your spouse if you go into a nursing home Cushing and Dolan has put together a brand new guy top ten reasons to do estate planning all your copy now 8668485699. Cushing and Dolan can help you protect your assets that number again is 8668485699. He's up with the securities America ink member and SIPC an advisory services apathy securities America advisors and Gary Armstrong representative Armstrong advisory group Cushing and only in the securities America companies are unaffiliated hi this is very Armstrong from financial exchange recently I've been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even the ads frankly that I hear on the radio I like to buy gold from a local institution that I try I. I owned gold and I'd buy my gold points from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank with. Branches in East Arlington Arlington center Arlington Heights at Belmont Burlington and Central Square Cambridge say locally and buy your gold coins locally it just makes sense give leader bank a call and learn more about their gold coin. Programs 8776917. B 900 or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down in value. It's okay signs of your portfolio that matters it's how you can't always get the information you need to know or break here on the financial exchange in the financial existing radio network. Time for trivia here at the. Financial exchange are tech's number 66 Canadian I don't know that we've ever had tricky question that is quite so easy. What is the it's area code for the state of New Hampshire now a New Hampshire one of a handful of states. That only has one area code yeah we have around us. Right Vermont only has won an island RI would mean I'm guessing mean only have one area code. Connecticut has at least two. Massachusetts has three year for yeah for guests right. At least four remember when you the whole state used to be one didn't you mean Erica I know I guess Springfield that had only been. To you know has been four with Treo and bring you the. When I was growing carry you would die L I did. Do so in Bridgewater was 697 is the first three Amber's you would dial seven in the in the four digits and then you would be connected wherever you are going. Dahlia Ural. And. Not as old as you know England to get it clear that the. Our text number is 68680. What is the only area code for the entire state of New Hampshire. First person with the correct answer to that very easy trivia question will win a prize so we talked about it earlier. BMW. Dime Wheeler and Audi are purchasing Nokia's. Mapping business. Brilliant strategy but it I think we need to talk about why they're doing. Yet they're unique we even following this for awhile that you know new Kia put the feelers out there awhile ago I think in median in that first part here that they said Ari what we wanna be off. We wanna sell this division and we were thinking it might be Google or Hoover apple pretty. Hi contenders and it's so it's the three largest. Dealers here BMW dime learn Audi that have formed a joint venture and have won the bidding process that three point one billion dollars acquisition. Germany's biggest auto makers are doing it in there are really doing it. Because. The autonomous cop they need this map thing. Software Nokia has helped division they have the napping information for 131 countries. In its exact down to the nearest centimeter so that's why did this with such. Hot bidding process that he will. They need for that autonomous car very. It dared not gonna compete without. And you know I think Google is considered to be the lead player in this but they're not the only place they certainly are not they're not the only player and every manufacturer vehicles is gonna need softer the problem here's what scares me a little bit is. You've got all these automobile manufacturers using software. Designed by a different companies and I'd rather have it if I am a consumer. I would like to know that you're using the same mapping software that on the using and that Tucker using. Yes I don't want us I don't want Tucker using apple software you using Nokia software. And me using Google softer because that to me would be a rest before does that sound and off each other on the highway right. But could this wind Nokia is here product. Me these three automakers have said that they will continue to retain. The service that they're crying providing to their competitors now there are other big I mean makers that are using Nokia's here. You know knowing it I I hear it and and I think what it means is that we're moving closer and closer to fully autonomous vehicles. But I don't like about it is that there's going to be a lot of different ones and that spells that's potentially a recipe for disaster. I NG direct did this survey and it. Says in the survey that half of American adults who have participated in a 401K plan or equivalent retirement plans. Left the account at their previous employer. And I bring this up because we have a new guide every month here at the financial exchange we give you new educational material you can call in for. And receive the guy that we are giving away for the month of August. Is related to deciding. What you should do with your 401K plan when you change jobs and it we all. Have had job changes of most of this attached changed jobs during worker one you can. Take the money and run rate you'd just take the money out of your 401K plan not necessarily good idea though could yet pay taxes on it. You can leave the funds in your four when cape you don't have to move them out and less it's less than 5000 dollars than the employer has the option of saint hey. If it's a small now we're sending in check when he wanted to or not. You can transfer the funds directly to your new employer's retirement plan. Or to an individual retirement account after you gonna do that make sure you're aware of any fees and commissions Mike charged. And then the other thing you can do is you can have the distribution check made out to you and then you can deposit the funds in your new employer's retirement plan or in an IRA I bring all of this up because there is a free guide. That will help you decide which option is appropriate for you and for your family feud like a copy of this guide are yet to do is call. Toll free 8668106422. That's 866. 8106422. Woody and learn. Well you're gonna learn as to what your options are related to you might have 101000 dollar sitting in a 41 K plan for a company that you work for. Ten years ago twenty years ago. What are your options as a leads to those monies and what can you do about it. 866810642. Twos the phone number that stole 38668106422. Bloomberg valued at more than. Fifty billion dollars. The last revenue number ice offer over Susan was that they're bringing in about 400 million dollars a year. Yet this is this is just crazy to me this is a five year old company they'd actually. There value based on their Eads is higher than where FaceBook wise in 2011 at the time. So they've done another round of funding to date they've brought in five billion dollars including the latest one billion dollar round. This round include investments from Microsoft he ended when it largest Indian media conglomerates that are out there. Now there value higher than. Facebook's high water mark writes it would have been waiting for is I've been waiting for them to do their initial public offering. Now there are few hints that they mind and there are few hints out there and in need obtained a line of credit. Which is valued at two billion dollars they've sold convertible debt to investors which has a value that tied to a future IPO. Price so. Did the writings on the while of course they will not comment on it. And there really ramping up their investment in new technologies they dean Reid talked about the coached forty. Researchers and scientists from the current yet and Alan and Alan robotics institute. They've they're dumping bear an aggressive company and they're dampened a million bucks investment into India alone which the sales in India are growing 40% month over month I mean it's. Just phenomenal to grow just think about the business travelers that goes to China goes to India. He just makes you feel more comfortable when you get off that plane puncher phoned. And partly yes you know you do in the area there revenue you you'd mentioned their revenue that he had. Far exceeded Facebook's revenue that they had at that time the east but had two billion dollars in revenue when they were valued at fifteen million. Wilbur has only 400 million in revenue but they are expecting it to be two billion this year so very very rapid growth very aggressive growth. Challenged by litigation. Certainly everywhere and follow news I'll I'll. Korea they're challenged by litigation in Mexico they challenged by litigation while hacked. They're challenged by litigation in Cambridge Massachusetts taxi drivers in Cambridge Massachusetts today. Going on strike. In protest of The Who verse service I've got to tell yeah they are gonna go along way towards alienating their customer base with a strike that they're doing. Not even that there it's it's more for grass roots strike it great we're seeing today because the Massachusetts regional taxi advocacy group doesn't even support the strike. They're saying that they're not supporting the effort and they feel that you know it's it's the work stoppage. It's gonna be counterproductive and they're gonna healing me those people that you know they I great they're gonna call over instead. Yup no way I think he's a taxi drivers and they're going to be slowing down traffic in protest of you who bird beer. Would they should be focusing on is how do we compete with Hoover right what do we do to providing better service to Hoover was born. Out of the fact that people didn't like that taxi services were available right now is that that's that's where industries come out. And they were dissatisfied. With the current state of taxis so taxis need to get their act together and compete with Denver. This is not in my estimation this is a mistake on the part of the Cambridge tax I agree with you bury. Ari coming up we will be joined by Scott Gaiam. From thestreet.com. We have 123. Stocks that we're gonna talk about with Scott that's next on the financial exchange. He worked hard to make your money. This is the show they can teach you how to make your money pours through you it's a financial exchange with Barry Armstrong on the financial exchange radio network. Are you thinking about transferring your home to your children in order to protected from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write a check your former son or daughter in law just a buyback your own home not only does transferring for your home at risk they can also create huge capital gains tax when they sell it right now the federal capital gains -- can be as high as 23 point 8% and that's an addition to your state taxes there are better ways to own your realistic that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary taxes Todd let's do you in the law firm of Cushing and Coleman have put together a brand new guide to the risks and rewards of real estate ownership this free guide we'll show you the best way to low mural real estate call now for your free copy an 8668485699. Don't put your home at risk 8668485699. That number again is 8668485699. If you're thinking about retiring min in the next few years it's time it makes the big decisions do you know how to change your investments from a growth portfolio to one missionary thing in common do you know when he optimal time to collect your Social Security is did you know Betty you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more and leaving a legacy for years injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8688106. Or two to you worked your whole life aiding towards retirement doesn't make sense to get professional advice to make it last. 866810. Sports YouTube. Securities offered through securities America ink member finreg it's a PC an advisory services offered through securities America advisors and Barry Armstrong represented at arms and advisory group Ministry's American companies are unaffiliated represented as a securities America do not offer legal or tax advice always seek it by a professional familiar with the laws in your state. Are you thinking about entering your home your children in order to protect it from the nursing home. Did you know that if you do you put it at risk for your children's creditors including future divorces. You really wanna read it checked your former on her daughter and not just to buy back their own home. Not only does transferring your home and read it can also create a huge capital gains tax monies ballot. Right now the federal capital gains tax can be as high as 23 point 8% and that's in addition your state taxes. There are better ways to own your real estate Beckham protected from the nursing home. Keep it away mutual opens creditors avoid probate and not cause unnecessary estate taxes. Talk about in the law firm of Cushing and Elena put together three new guy to their risks and rewards of real estate ownership. This great god bless you the best read on your real estate com now for your copy at 866848. 5699. At 8668. Glory by 699. Investors searching for relatively little risk investments can easily be converted into cash often turn to certificates of deposits are CD leader bank is currently offering an eighteen month. CD with the impressive one point 25% EPY. For new account with these guys have rates now as an ideal time to take advantage of this great opportunity from leader bank to learn more about the eighteen month CD with a one and a quarter percent EP why call 8776917. New 900 today or visit. What do leader banks conveniently located branches in Arlington Belmont Cambridge or Burlington earned more interest on your money today by a leader bank branch or call 8776917900. To learn more with the bank a step ahead minimum deposit to open and earn annual percentage yield is 1000 dollars Massachusetts residents only penalty early withdrawal including iris penalty which may reduce earnings rate subject to change without noticed member at the rate effective November 4 2004 team. Lower from Barry on Twitter. Low it's already Jeanne Armstrong this this is the financial exchange radio network. They're talking about Hoover earlier if people ask knights have any asked do you think Hoover drivers are going to pay taxes on their income or will they try to work under the table know they'll be paying taxes on it. Too much greater degree than taxi driver taxi drivers are notorious for not paying taxes. Hoover drivers get knee. 1099. At the end of the year from Hoover and yes the well they're supposed to pay taxes on it whether they pay them or not I couldn't. But the there's a better system for collecting taxes from an Hoover driver then there is from neat taxi driver. Our guest is Scott Dan from thestreet.com. And we're going to be talking to about three stocks including Bank of America. Are you a buyer or a seller of Bank of America Scott. Well look he's certainly need to factory and that's Federal Reserve looming rate hike when it comes to the banking sector are. And what we're seeing is still as great prize is the bank's net interest margin you know. Should stairwell. Those martians taken amid higher rates so that you really need to keep that in mind we try to quote unprecedented. The interest rates over the past you know six and a half years here in Europe percent of if that is likely to change. Some are still expected that type patent and during its September meeting Robert looking at December and if some economists we talked we even say it's. Injured when he's sixteen but regardless but it is looking to exit the economy and the banking sector in terms of the analysts we speak to should fare well. What do you think about the potential for break ups of a bank like this JPMorgan. Is under pressure mean your just such a large financial institutions now. I don't know that they can be managed by one person. Well look I mean this has certainly controversial issue and of course we just had defied your anniversary of the Dodd-Frank legislation which supports. Tried to mitigate the risk of these calls so called systemically important financial institutions. And then you can argue whether or not that. What did that of course we will have the vocal which tried to limit certain parts of proprietary trading so. You know you have to ultimately look at each bank and they're okay well you know it is to break up it's impossible of course these banks are gonna type that it had. All right how about Valero Energy PLO is the symbol to 65 dollar stock. With tremendous exposure to oil prices. Well look so I think what the there'll be a low and marathon petroleum and people see these refineries so. We're looking at now are seeing west Texas intermediate step approach for US soil about 46 dollars a barrel this important crew which is the price for. Overseas oil but it shifted out of this about it and Ford are spread there are so. Anytime we see that's part of why did that's going to be good for the refineries because that gives them an edge from there overseas competitors they can actually. Tapping into the cheaper US oil which is not up for export. Refined than oil and then. Export and that oversees worst overseas refineries have to tap into the more expensive Brent crude soaked. That's why the annals of the speak to like the refining stocks at least right now. Because of course we're seeing that spread wide in a little bit. You know they look pretty attractive from a pricing standpoint to weigh in lake when you look at their earnings that I guess the question is can they. Deliver the. Well certainly you know cause he didn't continue to keep an eye. On oil prices when you look at some of the bigger integrated oil company in those companies really there's no there's not much. The solutions for them when it comes to low oil prices it's really tough for them to others it's pretty black and white and that's cents a they're gonna have to cut costs. As a way that he can improve margins for these refineries and they can actually. Get by given this disk spread actually of course. You know cheap oil is good for them because they used a crude. Deterrent to get points. Like Indy somebody's making money on that trait I mean oil's traded 46 dollars a barrel but I'm still paying 269 per gallon gas. We're totally according to my map I should be paying about 229 for gas but they're sure prices are sure sticky on the way down are they key there aren't they Scott. Yeah I mean look you know that this has happened all the time Miette gas prices are a dollar cheaper than they were a year ago. But of course oil prices at least cruise is in a 50% cheaper per hour or so. But you know keep reminder our cost to refining and that crude he can't recruit your car. Right that's that's true and it's that's very true thank you very much for your time Scott we aren't much. His three stocks elections were Bank of America Valero and marathon symbols BAC the L lo and end PC. Check with the your broker check with your advisor before you buy those stocks or any others that we might talk about during the course of our program. Thrive market. They are a fund it may be just got thirty million dollars at the funding. To grow their health food delivery business. They have and you know that the whole. Funding of restaurants and food service start the second quarter it's huge 418 million dollars of funding into this type of industry. It's the highest since any carried since 1990 cute they are right on bobbled it. Their little bit different where we've seen you know the good excuse me the companies that development of fresh produce up. They focus more on those shelf stable goods rather than the fresh produce good thing I don't know how they can compete. With him on in the space. Well their prices they're saying are thirty to 50% less because they focus on a membership fees that they charge sixty gallons a year. To be an apparently he would it your PG and their hospice yeah that initial BC not really feeling mapped out the year. What you're really feeling is thirty to 50% cheaper. They can. Where you could buy something down the road if it were in organic gore or that that type of products at a makes sense they're gonna use that money to build a distribution center in Indian which will allow them to be shipped anywhere in the United States within two days so that's really where they're focusing on. And they've got some big backers some of the investors in this surrounded. Funding include the Food Network stony field arms Tom Hughes and you really so there's some big names behind him. If you could get it delivered. And it's at a lower cost. Then what it would be if you were to walk in to a Costco walk into BJ's or go online to analysts on. The thing that Amazon's notorious for doing though is they'll say okay. Thrive you're trying to compete with us we're gonna put out of business we are going to do whatever you sell it for we're gonna sell it for last. But there are focusing on and producing their revenue by at subscription rate not on my right but it just a matter of whether people get paid. 99 dollars to be a member of Amazon I get paid another sixty to join thrive when you can buy the same products for less money. On Amazon if we used to living without you know I don't know what Brad does it shaping that would hear your name. In pain fortunate that we have to watch it yet that's the Amazon.com. Is just brutal competitor in an or not he would compete but the root you know. He would keep people complain about labor. In their tactics and try competing with the Amazon.com. They they have put me any company. Completely out of this and I but I am not sure it's been healthy process. Week as you look at a lot of the companies. That go out of business and then they're gone permanently in an Amazon raises the prices so that's not necessarily good for the consumer long run. How do consumers protect their credit cards new ways to protecting our. Slots in new ways coming at bury some of them kind of exciting so some of them are pretty standard things that you would expect. Even get a credit card with a chip built into it these car companies have to happen in place by October a lot of running and I got one of those things you may you may find a little bit delayed on on getting those you can use a digital wallet like your apple pay or your Google wallet. They have credit cards with a remote controls the you can say I can only use this credit card in Massachusetts or Edward island aren't certain stories that you would go into. You can switch to something called a Smart card we have one plastic card yup you load all your information on the air and then by amateur technology into the market less risking your fingerprint for us. Thanks for joining us for this hour of the financial exchange she is Susan powers and mining has very Armstrong. Protecting your credit and identity is more important today than ever before bad credit report can cause your car and homeowners insurance rates increase and could stop you from getting a job or promotion the Bureau of Justice Statistics estimates that sixteen point six million people had their identity stolen in 2012 count myself among those victims my name is very Armstrong and I want you to learn how to protect your identity and prevent credit card fraud -- a free report that provides you with tips on how to avoid identity theft and it also provides you with reforms needed to request a free credit report from all three major credit bureaus call this number 8668106422. And will milieu free report that teaches you how to protect your credit 866810642. To the cost free and so are the forms needed to check your credit called now 8668106422. Securities operative securities America incorporated member of an anti PC an advisory services op with the securities America advisors and arms on advisory group in securities America companies are not affiliated. Mortgage rates are still at an all time low and make sense to take advantage of these rates whether you're refinancing or buying a new home leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates ask they're experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work with leader bank colleagues 776917900. Or visit leader -- dot com leader bank claimed over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. There's a true experts -- mortgage financing deal with a local bank today and call 8776917900. Or email us at loans at leader bank dot com visit leader -- for all your home buying or refinancing needs 8776917900. That's 8776917908776917. -- 900 or visit leader banks dot com. Did you know that unlike other green products a solar system on your roof is actually less expensive than the alternative Boston solar can show you how to unlock the financial power in your home or business by harnessing the natural power of the sun Austin solar is the number one rated residential solar company in Massachusetts and a leader in providing affordable energy solutions to homeowners throughout New England. And with continuously rising electric rates Boston solar empowers you to decrease your utility bills and increase your energy independence call 8559799446. Today to receive a free solar analysis of your home and learn. How you can start generating positive cash flow now that's 8559799446. Boston solar can work with you to maximize solar incentive income at all federal and state tax credit Boston solar Smart sustainable and saving you money call Boston sore today for your free solar analysis 85. From liter bank I'm joined today by vice president of leader bank mr. GA truly. We're here to talk about gold coins and silver coal means and really everything that goes into precious metals what kind of gold coins are available through leader. Thanks very resell two different types who sell American Eagle and programs registered two different types of gold coins that probably the more popular ones. And we also sell a fair idea of denominations so we shall Koreans we sell them in ounces of you can sell gold bars. If you go further we sell in silver coins as well so I'm where we found this to be attractive to customers or those types of folks coming in. Neither one abide as a gift sure. Or sometimes or investors who come in and they wanna buy the real gold said his alternatives to buying you know gold beads yes or right of mutual funds that focus on commodities so I've heard a lot of people say that to me that they prefer to own the fiscal lacks asset that but it is safe deposit boxes and put it in all. They like that better than. Paper which they really don't know what's behind the paper absolutely and we sell them and all over different branches they can be. Pot you know at the branch in Belmont Burlington Arlington Cambridge Boston and right. Acker brings absolutely all right folks if you like to learn more about buying precious metals through leader bank. Go to any branch of leader banking you can buy gold coins silver point you can buy gold bars if you're so inclined. They even come within authenticity. Certificate. Leader bank is the only bank in New England where you can buy gold point 8776917900. Is their phone number. The website address is leader bank dot com. They give the McCall and learn more about their precious metals program 8776917900. That's leader bank. 8776917900. If you're thinking about retirement in the next few years it's time to make some big decisions do you know how to change your investments from a growth portfolio to one which generates income do you know when the optimal time to collect your Social Security is did you know that if you lopped from monthly pension that income can be at risk for the nursing home perhaps a lump sum pension option makes more sense leaving a legacy for your spouse injure children there's so much consider before you stop working and we've put together a 26 page or reach high aiming guide they can help 8668106422. You've worked your whole life saving towards retirement doesn't it make sense to get professional advice to make it last 8668106. Securities offered through securities America ink member finreg it's a PC in advisory services offered through securities America advisors and Barry Armstrong representative and an advisory group in the securities America companies are unaffiliated. Had boon here with a word about banks' safety. You think your money in the bank is safe don't own bank Garnett a generation ago Mexico felt secure and they paid interest. This encourage the virtue of thrift savings but today. Bank accounts paid virtually nothing and have shifted from lower risk the high risk for example did you know your money deposited in most US banks. Could be subject to limited withdrawal. And even confiscated by existing executive orders who he hit this. And that's just the first of nineteen risks explained in a new 32 page white paper entitled don't bank on it. Still think you're bank deposits are safe yet this vital new white paper now call toll free 8051960. To 71. That's 8051960. To 71. Fight your favorite news photos and sports updates on your phone when HP mobile from the Associated Press the new HP mobile is now available for free and iTunes AP mobile where the news gets its news. According to -- recent survey conducted by Genworth the average cost of nursing home care in Massachusetts is a 134000. Dollars per year how quickly would your assets be depleted if he had to write checks to the tune of 111000 dollars every month while it's certainly ideal to develop your asset protection plan in advance like tends to get in the way if you or a loved one their feast with an unexpected nursing home stay. You haven't done your cleaning before you write that check pick up the phone and get some expert advice. A lot permit cushy new talent has put together a brainy guy for 2015. Called cleaning for procrastinators. You cannot put off this call any longer. Call right now to get your free guide and learn how to protect your assets 8668485699. Don't impoverish your spouse or use up your kids' inheritance coughing you're free procrastinators guide right now at 866. 84856998668485699. The. This is the financial exchange we've Barry Armstrong. Wall Street to your street stay home. Upload breaking business news and balloon how to manage your money to help you towards a more secure future it's still fun did you exchange with the euros. Barry Armstrong. Welcome to the show everybody Barry Armstrong and Susan powers with you here on a Monday. At the market would be doing better than it is in very good auto sales numbers that came out early this morning. From a number of manufacturers both domestic and foreign if the Dow is down 74 points the S and he's down a couple. In gold trading at a 1091. And outs of big story though from my estimation is the price of crude oil Susan powers down 46. Went with me. Well I keep waiting in all the news we talked earlier about how the refiners and refiners must be making a lot of money. And it got to be just kill. On these deals right now you you figure. Yeah they're buying the oil for 46 bucks a barrel and they're silent as gasoline. Like to ask your pain numbers. It was two did dawn on the united giving it away for for not just it is and is some errant 240. Bush I went through hopes that New Hampshire yesterday and you know New Hampshire generally pretty low Kong's. And he used to 69 a gallon for regular. You know and look for my back and they did that Cumberland farms IC ten cents a gallon and he's in the Smart the iPhone. The app that's on our rates a ten cents a gallon from a gallon that's pretty good in if you're not using it. They slashed the price of this is what the non members if they feel this is what the members painted the united helix Lou I can be babe bit and that Miguel let's right now how do you hope that output would you have to do is just now on the app you blinked you are checking counting your Deborah card to let me use a credit card. No I think you could you credit card with that I think you can you just have to link something up to take with them on the backside and I just use it to I would think. They'd wanna avoid credit card 2.2 percent beef from MasterCard that's fraudulent again giving it tends. I'm sure I can shutting down I think he's great at trial again the snow buried it maybe you guys know 68680s or text number but I don't think with that Cumberland farms deal. You can use credit card I think it has to go directly. As a debt against your Turkey which is still to be. Right tense at two gallon since cents a gallon when your Bryant 405060 gallons a month that adds up it sure doesn't madness stop in Chaplin values that we occasionally is welcome to get credit for. He knows bottomless pit that would put me there. Let's talk about solar power. You leave we have advertisers who come on the show and they promote their services but solar power boot could end up coming to a screeching halt at the end of next year. It sure could so the federal credits that are out there are set to expire at 12312016. For consumers and then you know now there's a credit of 30% for businesses. That's gonna go down to 10%. In their doesn't seem to be any sign of extending their credits that are out there Barry. I'm currently made a statement over the weekend about her clean and to boost solar power by seven times in what it is now by 20/20 but. Her claim is very day she didn't specifically mentioned this credit that they expiring. And without extending this credit it's predicted deaths the solar market will decline 57%. Now in 2017. So. And there's not a lot of talk about expanding it from any of the candidates are at their Bernie Sanders. Has pledged that he wants to see his solar policy expedient of renewable energy. Till low income non citizen well yes trump has blasted it as a bad investment overall solar in general and solar efficiency is up production costs are down now it's it's the whole life I have never a break he right now. The whole idea though behind tax credit like that 30% and you know in some instances the credits her 405060%. Of yet on commercial property. And the concept behind it is you give the early users the early adaptors if you will he give them a big tax credit with the thought being if you. Force and cause the manufacturing of millions of these panels which they have effectively done because we're seeing it everywhere and Gregory. They eat when you feed the pump like that are primed the pump like that it should lower the cost of panels and panels have come down in price dramatically. So here's a couple things that I would predict. One I think you're gonna see all of the inferior or panels dumped on the market between now and the end of next year. And the more expensive panels are going to be dumped on the market between now and the end of next year. The more efficient I think you'll see dramatic improvements. In efficiency and I think you'll see it decrease in price in solar panels. Coming in the years Tony seventeenth if you're right if there if it credits are over right that means that their could be. A backlog. Of superior technology becomes available in the year 2070. Yeah it's a risk either way. It is there risking I think about all those folks that have bought these panels that are going to be service by these companies that are gonna be out of business as a result of this being there. I personally am weak in waiting for that Indians technology I think that he unmasked is gonna invent for me. Roof panels like roofing shingles got that look like my roof but these little solar cells on them. That's what I'm waiting. You could be right I mean the I think there will continue to be. Advancement in solar technology I don't think it's going away I'll put it that way I idol figures he solar power. Go away I think it is here to stay because he's just too much of it out there is its its sole. Prevalent then it's difficult for me to imagine that solar power comes to an end but the credits. Do commit to an end and they are put in place by the way don't reminder that George Bush put those yes he he was the and that installed. Are right here's a trivia question for you law. What is the elevation. Of Mount Washington. In New Hampshire delivered on the top of Mount Washington. You know I don't think I hit a. My name me neither I've been in New Hampshire million times that seen the mound but I've never been to the tippy top and never been a Martha's Vineyard not meant never been in Nantucket Island I play very sheltered while it might get it out so I gotta get out anyway. Architects weekly trivia every day here on the financial exchange. And we're looking for in exile leader with me in a hundred feet how's that the height will you could win a prize. We're looking for the elevation of Mount Washington are tech's number is 68680. Tell us if you've ever climbed it and never. And never climbed. A name I see a lot of cars that of client speak thought liquor. But at the goddess who are maybe a lot of people who have bought the bumper sticker not necessarily really went out there that now. Can't see in the trade on gold at 1091. Dollars and counts. And you know begs the obvious question is gold gonna go to 15100 dollars an ounce gas Peter Schiff Utah utes would 5000 dollars has been wrong for five years Euro. Or is gonna go to 350 dollars now there's people that feel that way our next guest his name is Matt Egan from CNN money. Matt Egan is going to talk to us about his research and where he thinks the price of gold might be headed give you a hint. He could plunged as low as 350 dollars announced he'll explain his arguments as to why. Gold could plunge to 350 and out that's next on the financial exchange. Financial news business news and what it means he's all right here on the financial exchange with Barry Armstrong on the financial exchange radio network you might be ready for retirement but can you afford it when you're income support the lifestyle you want you know how to potentially increase your retirement income Armstrong advisory group -- a brand new guide available generating retirement income from your investment portfolio. Contains information on how to determine the best time to retire we'll show you how much income your portfolio can provide many strategies to help maximize -- the -- also includes important information on the most common factors that can affect your income there are many things to consider when you're getting ready to retire Colby Armstrong advisory group right now to request the retirement income -- at 86695799028669579902. Of the -- is free and so as -- -- 8669579902. Securities offered -- securities America members can -- IPC and advisory services -- -- securities America advisors think Barry Armstrong representative Armstrong advisory group in the securities America companies are unaffiliated. The decision of whether to accept an early retirement offer is not an easy want to make it may sound like a dream but there are tax and retirement plan implications that must be considered if you're not 59 and a half you may be faced with steep penalties or withdrawals from your retirement accounts will your employer paid for medical insurance or will you foot the bill until Medicare begins what will the impact of an early retirement be on your pension and Social Security can you afford to retire now and if so how much income what you need and where will it come from Armstrong advisory group has made available free guide called evaluating. An early retirement offer here's a number 8668106. Or two to let us help you make an informed decision call Armstrong advisory group now at 8668106. Or two to. Today's topic is securities America in member in SIPC advisory services up with the securities America advisors think Gary Armstrong repeat and it Armstrong advisory group in the securities America companies are not affiliated please consult with your qualified tax expert for any activity concern. Mortgage rates are still at an all time low and make sense to take advantage of these rates when your refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders and New England with a very competitive rates as they're experienced staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work with leader bank. Calling 776917900. Or visit leader bank dot com leader bank claimed over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. There's a true experts and mortgage financing deal with the local bank today and call 8776917900. Or email us at loans at leader banks don't come visit leader banks were all your home buying a refinancing needs 8776917900. That's 8776917908776917900. Or visit leader banks dot com. Hi I'm London and it worried about your character Loveland living alone like I was and you want reliable senior care information. In call a Lee or mom. The nation's largest senior lady were girls are a free and remain on the living and alzheimer's iron in her home. Even important financial information. Obviously brie or every not given meanings. They Downey plays or what he could afford and it was magnet. Where now. Very competent. And they helped every who. So here's struggling to find reliable your living information call her mom this free service and you and ask them to help. If you're struggling to find reliable senior living information your mom or dad didn't call or go online to get that we help you need during this turbulent time call now 8046775. Or. 800 or 677530. Do we greens. Finance and news big stunned to learn how they all work together this is a financial exchange on the financial exchange radio network. Topic of gold is always controversial. And to that evidence we've got a text from 41 thing very did you ask him. How China and India is supposedly courting of gold. Could affect its price. We learned is China's not hoarding your amusement gold. As we thought they were India however seems to have an endless appetite for gold our guest is Matt Egan. From CNN money iMac. Good you must've gotten an awful lot of comments wouldn't publish this article just read it to everybody. Prepare for gold for prices to plunges close 350 dollars. Every gold bug in America is on your career and for now one. Yeah you're your your credit certainly generated a lot of attention comment a lot of he Beckham on social media. It's gold prices that was something that people were hurt actually that. They do now you've had an opportunity to interview some pretty bright guys. That basically they do use this information. That day and and there are these are guys that are commodity traders. That are saying hey I'm not a gold because I think it's gonna fall out. You know that that's right I spoke to look what bird. He he's a former commodities trader you beat GW group and he actually all third call off their peak back in 2000 well. That was early to predict gold down all yup that the program would start questioning how much gold was worth gold was trading at around 16100 dollars out. Now down to eleven under so he certainly seems like what someone worth listening. Well you know I've I've read reports that gold to go to new. Eight or 900 dollars an ounce I'd never read one that said it could go to 350 dollars an ounce. What facts do you have in front of you that would lead you to believe that's a possibility. Well I think that is it important to remember that this is just one theory put toward port theory is that gold right now is. Dramatically over about. Key things that. Their value for gold is about 845. Dollars and out not only 5% below city's price yeah. However she points out that goal like stock went bond. They can move too extreme before they get active fair value. So you think at that extreme negative move will cause goal to drop to as well with 300 picked it out and out and what you said. That's something that's much more than most experts are calling for is also leveled at gold hadn't traded down to. It up for. Well and the the key here is not knowing what it's gonna trade that but knowing when this might occur does he give you a window. We are not not really not on the helpful not. A sheet of paper oddity corporate without cable or Internet Duke University. It becomes a little formula. And this formula indicate that right now gold is trading week to deliver a while it does not help or hanging ago. He's said that it it's it's unclear and no one really knows for sure and put that series right gold will eventually get that well. He just could take many years or even decades to get that. I've read the duke study and I know this guy. That anybody else with credibility weighing in with similar opinions. Yeah you know there are a lot of people right now on Wall Street who are bearish on gold. We're seeing Wall Street banks. Slashed the price target. Not quite as well not nearly as well as what herb has called for an urban and an art but they are. Getting more negative Goldman Sachs recently. Predicted that gold could tumble below ball thousand dollars for the first time in 2009. Out right now it's that 11100. And it's interesting that come from Goldman's stock because he's got and it would biggest cheerleaders of the commodities dupers. Now which day any opinion on silver I'm getting this question from one of our listeners finally once you know. Silver gonna suffer a similar fate silver's being spank the lately. That's right out you know the silver is a little bit different animal. Hadn't seen in many bears were nothing as dramatic as as what the other corporate notable. It you know sober and no other commodity that is really just taking it and and you know beyond an oil went up that he didn't. Really big decline and in the metals market we're looking copper and iron ore spot palladium. Many different metals or declining and that would seek it is it's been impact on the spot market. The basic materials. Minor in particular. Really all gotten cream. I remember a few years ago when Paulson got out of gold I think he sold half of this position. And I think what crater down to like 15100 announce that looks pretty good right now. Direct your right right now it it's just below. 11100 and you know it got in nearly 2000 dollars and how that nut in 2011. And people were calling boldly go higher and higher. And and obviously now it's you know it's it's barely half that. And it wouldn't you truck to the the minors or when you talk to these investors like this commodity professor at duke. What do they tell you it costs to get gold out of the ground. You look at that and good question and I'm I don't have that number in front right now and where. It's an interesting point because people always. Org you about what it is that actually drives gold prices that the authors of the paper believe it it's brilliant leash. Older people think it's as you mentioned at the top of it. Certainly in debt that it has more to do China and India and and all the demand there yell and then there's others say it's actually the production cost. You know how much money it actually. Cost to get that in bold out of there the ground is really what drives price. But it's not something that that he's co authors of the paper urban RB believe they based that that you know they don't think that there's any evidence that. Our production cost are actually driving gold price. Right on the you know what it is I just asked my producer to take your article posted on our FaceBook page Kelly folks can take a look at and they can make their own. Thank you Matt appreciate your time that's Matty in CNN money I know the guys that he's referencing in news story. I I I do not share the opinion that gold is gonna go to 350 dollars an ounce. Bill I acknowledge there seems to be a lot of softness in the price of gold in indeed it. You know in eating meat tampering. Are known well. Maybe it. Owner Mike Murphy to do in Google. I mean in there and I'll correct me if I. All right the answer to our first trivia question was New Hampshire. Area code is 603. Meter winner for the islanders we did Ronald from Woburn new cancer and then. Our second trivia question was what is the elevation. Of Mount Washington many viewed news of a surprising number of new. That it was 6200. ED the whole of the world's worst winter. And it was a long time holder of the highest wind speed over ever recorded in the Earth's surface. With a gust of 231. Miles per hour on April 12. Of 1934. That's. You know spokesman had said that the hike it. And 161. Sentence as her boyfriend actually Ian up. Mount Washington in road race many had to run back down. I would be dead and I it. I I get tired is driving. I. I would be thumbing a ride half way out today immediately less than halfway. I mean and then a lot of guys go in knee and hike it. To go skiing temperaments are being. That's supposed to be an incredible trip. That we all need to do. He needs to be on my bucket list yet he needs it's him for keeping yeah that's. That shocks me have been about a hundred or that light just went to Nantucket for the first time last year some from right there with you but yet it out there it's more common but right at them. Missed an out and you are big time eight. Hey we still have an interview coming up with Jill Gonzales from wall. We talk about the health of the housing market. Throughout the country but specifically. To New England cities might surprise you that are considered the very healthy in terms of their housing market. Susan how much money does somebody need to say every day. In order to become a millionaire by the time they turn age 65. Well because you're so much older than he is even more than hot night so there's a new book out it's a well done before we go now I feel just terrible about myself. It's 603 says I have a paralyzed friend. If he did on bicycles last weekend. Now I guess that's that while that's even worse than before the anti market and it does it just. It's pretty bad. It's impressive and very anyway. How much money to say let's go back to submit that what is depressive. There only needs that the eighth sixth spot that day now these big talkers. I think he's probably nearing the Big Three you know me I am 2727. Hour implement it again that aka major in between my ranges here system is thirty years old 56 dollars today. Some like me young. I think he. Is it big emphasis on the if I got older if she then 45 has recently crept that 45 British I'm gonna stick with the inch. Thirty dollars a day now similarly you I don't even think out of that where I don't even have that high of an age bracket but someone if he idea need to save a 156 dollars they would shows meat packer if you're honest about. My ballot clapping her. Put it in the bank instead I become a draft things though. You figure out and lose it all and a for three putts today which Reggie need to see if I ate today to make up realizing. I think your your trip to Starbucks might be better investment than your trip to draft. I absolutely right you're Martha Graham quietly allowed out. It says so. So what rate of return visit us in the third biggest big inning in expected very high rate of return at 12% the numbers in this back. It doesn't taking too. Into consideration your taxes but the whole point that they're driving here is. You don't need to have money to make money you just need to start making decisions and start eating. As early as possible best way to do that is an eight year player. Refinancings. Student loans that's our next topic when we return on the financial exchange do you know anybody with student loans. Pay attention that's next. Barry Armstrong and the financial exchange on the financial exchange radio network. Mortgage rates are still at an all time low and make sense to take advantage of these rates with your refinancing or buying a new Roman leader bank is a local bank that is one of the largest mortgage lenders in New England with a very competitive race. Ask their experience staff about mortgage financing options and get a very competitive low term fixed rate for your home whether refinancing or buying a new home work with leader bank calling 776917. B 900 or visit leader bank dot com leader bank went over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. They're the true experts and mortgage financing deal with the local bank today and call 8776917900. Or email and loans at leader bank dot com visit leader banks for all your home buying a refinancing needs 8776917900. That's 8776917908776917900. Or visit the leader bank. Dot com this is very Armstrong and I'm joined today by estate planning attorney potluck ski from the law firm of Cushing and dole and with your financial exchange. Quick tip of the day. We're talking about the top misconceptions. Relating to Medicaid you're vocal trust meantime a lot of our listeners are apprehensive taught. About transferring highly appreciated assets whether they be stocks or real state to an irrevocable trust because they fear their beneficiaries. Will not receive a step up in cost basis. Upon their death. True or false. Well again they should not be out concerned about that because the way these trusts are drafted a will get a step up and remember. They should be concerned because most of these assets that they're transferring. Our house our vacation right they had very little on in buying it. And folks that's what you basis it. Very little if you pay for it. And now it's worth a whole lot more well if you were to sell it they take the value of what you sell it for minus your basis to come up with a gain while when you die. If these are owned either in your name alone or included in your state even reveal one of these trusts and the government gives you the amazing thing called a step up in basis which means you beneficiaries. Get back home that vacation home on the lake as if you bought it. It at fair market value on the date of death that your parents died and now if you guys say you don't want it and sell it you salad and you have no capital gains tax to pay huge win so don't be afraid of that put the trust to protect it and get the step up in basis. Here's a little bit of advice from your uncle Barry get the facts about protecting your assets from long term care expenses request this brand new guide from Cushing and Dolan the top misconceptions. About Medicaid irrevocable trust 8668485699. Its toll free phone number called now and get your guide 8668485699. That's 866848569. Est in asset protection planning can be overwhelming where do you start. How do you know what type of his rate for you hi this is very Armstrong and I'd like to talk to you about the law firm Cushing handle it in creating fake planes are folks in New England. For more than thirty years and they can help you to with all the different types of trusts available I can understand the confusion. When it comes down to a state planning do you need to revoke global truck do you need an irrevocable trust in what the difference you'd need an expert advice and they put it together free guide that will help you do side. The best plan we view this pre guide the differences between revoke global. In irrevocable trust is yours the call 8668. Or 85699. They can even show you how it's possible to eliminate your estate taxes I love that part call Cushing handle right now to get this free guide 8668485699866. Eight or eight. 5699. Hi this is Barry Armstrong from the financial exchange recently I'd been hearing many reasons why we should consider buying gold geopolitical uncertainties stock market corrections you name it I don't disagree with the idea of buying gold but I have always been suspect of the ads that I see on late night television or even yet frankly that I hear on the radio I like to buy gold from local institution that I try I owned gold and I bide my gold points from leader bank I walked right into any leader bank branch and I can buy American Eagle gold points leader bank is a local bank. Branches in East Arlington Arlington Arlington Heights at Belmont Burlington and central where Cambridge bay locally and buy your gold coins locally it just makes it give leader bank a call and learn more about their gold coin. Programs 8776917900. Or visit leader bank dot com leader bank a step ahead not a deposit not FDIC insured not insured by the federal government agency not guaranteed by the bank may go down and out. We knew the trouble of Reading all those technical financial publications. And break it all down for you. It's the financial exchange on the financial exchange radio network. Time for trivia here on the finding the perfect number 68680. Which New Hampshire needed. Was the first to enter space now give you a hint. It was the year in 1961. In this guy in the I give you another hint it was a man. But which is the name what is the name of the New Hampshire native lose the first person or first enter space you know the answer to that. Texas at 68680. Inches that's why I eat the last question he had about the elevation of mountain Washington Michael from carver who knew the answer to that trivia question everybody likes height that. It's dangers though. Seems like. Did seem like every year to you read about somebody you hear something about somebody dynamo washing yes see I kind of lump all exercise into that dangerous category so there's a lot of things they can go wrong when your practice and that is a full. They ego for the good of the people I am right there with you at. Hey. Lenders are pitching. Opportunities for students to refinance some of their loans and hope so anyway it. This makes a lot of sense for many view who have accumulated student loan debt or maybe your children god remains of your grandchildren. Who have accumulated. A lot of student loan debt during their college careers. Yes and you know what bearing 93%. Of student loans are federal student loans rather than private student loans that there is a movement afoot. To hide it lenders looking into refinancing this but it's not just for everybody so. Before the recession hit most lenders avoided refinancing student loans because they were typically sought after by those people who couldn't keep up with their payments and now. What we're seeing is where traditionally the government allows you to. Consolidate your loans and refinance and it's really consolidating not refinancing your federal loans. It's based on the average rate of what you are currently paying so you not read reducing your rates at now. But we did us in fact since 20125. Of the largest lenders out there that are doing this reef I his refi. Five billion dollars in student loans and you can save quite a bit you know if you go frown there's one example in this article in the journal that said. This one woman went from seven a quarter percent down to four and three quarters are still not super low rates but certainly much lower and it's your refinancing 150 Korean can certainly make a big difference it. But what they're doing is they are targeting this niche sector it folks who have high credit scores are. Folks who are making getting comes there they're calling them Henry's which are high earners not rich yeah yup so they're focused on that. Couple of the bigger companies that are out there doing it New York common bond is one they only target graduate. From specific grad schools with specific degrees like med school or law school. They're looking for the average person it is making about a 150 grand. And here's the problem and point out. And in this is all good if you're if you're the dock if you're the graduate student IDs terrific rate go from 7%. 4% what's wrong with that. The pricing. Model though when those loans are originated assumed it that 7% pay back. In the assume that higher number because they needed to subsidize all the people that don't pay it back right. So the actuary he is the actuaries are going to be having a tough time dealing with this because basically all the good credit people. Are going to be out of the pool via. And you have be left with a all the people who went to graduate school for underwater basket weaving. That are left in the student loans away from it yeah not the vet that just the reality that's that you. Mark my words you're gonna read a lot about student loan defaults. And the increase of them in the coming years which. Just raised the races to support them so I mean the goal of these companies is is to cross sell them they're not make it a lot to. Right now but they're hoping that they can save money now they'll be able to help them invest later. That's that's really the goal of what they're looking out so. There are some companies out there you can have the lower incomes lower is you know a relative term 100000 or so. With a 660 credit score whereas the Fed loans they don't look at your credit and they don't look at your income they allow you to consolidate these loans. Look at me earlier we had a frank conversation regarding solar power and I can tell you as a matter of fact. That the credits associated with solar power installation on your home or on your business they expire at the end of 2016. So if you wanna lock in your electricity rates if you wanna get these massive tax credits that exist you need to do so. Quickly hootie called he called my friends of Boston so they do a terrific job I've had nothing but good reports. About Boston solar from our listeners who have gone to Boston Stoller and installed. Solar power at their home I even met somebody fellow that put solar panels on his automobile dealership and I was ecstatic. He's absolutely ecstatic would not having to pay in electricity bill anymore. To get more information about Boston solar call the 8559799. Before 46 that's 855. 9799446. Raid over the phone. They can look at your home or they can look at your business you just give them the address and they look at it via. Google Earth if the advanced version of Googlers that they can look at your rooftop and they can tell you whether or not your property. Is situated in such a manner that would allow you to install solar panels on that property to get that information and to get a free quote as to what it would cost and what the benefits are. Players to do is call Boston solar 855. 9799. Before 46 tell them your friend a very Armstrong 855. 97994. 46. Susan I have a list right now it's only August. But they have a list for you of things that you should not buy your voice for Christmas this year and that would be the Nvidia should yield tab. Yeah you know what the problem and this is yeah I don't that it catches on fire it catches on fire you know what they marketed to these these diehard gamers who don't stop using the I think that's the problem. So they have actually issued a recall for 88000 of these shield tablet. There are four reported cases where the batteries actually can catch on fire two cases they they got so hot that they vehemence the flooring. And you know how much time you spend playing video games when you're gaming device catches on fire is just got it. And it that's a lot of time and that's who they're targeting these hardcore gamers there at the of these HD displays and they connected egging controllers. They're only 300 also if you have one. They are going to replace it for free but if you have one in it's getting hot enough to catch on fire. Go run around house or something do something besides liking. Have you been on a college campus later. How about you talk for you were there as recently as five years ago death in one of the problems they have on college campuses. Is the bullies are all locked in their rooms playing video yet those many. It was like that you order a video if it's it's a problem because they they're the kids are not participating. In student activity as I was down visiting my son at college and I was amazed I walked in news is it's dormitory. And there're three boys they didn't even look up they're just playing video games. Most of the it's gotten to such a problem. That. Students can hire video game coaches did you know cohort and it's a profession now. That is it frees me telling who's in the Wall Street Journal last week where. You've got professional gamers that no I guess the tricks of the game and and how to beat the game and they now. Teach kids and colleges. There there's scholarship set up now you can earn. College scholarships. Based on your ability to play video games that Bob ridiculous so. You wanna talk about just spiraling down. They don't talk to each of the even when the participant on these extracurricular activities they can't have a conversation type I don't know. Hi you guys would he handle them meeting people's socially I talked about it they call on the kids that work here yet. When we are growing up if he's our Q I actually have a conversation with him now your collegiate senate text you got the you can take to get FA I don't know you gotta light gun they get it nearly Q2 you get I mean it's just. They cannot. Communicate and I think they. It's a changed society and a who's who weight when you went to school was there are a lot of that like you were a lot of video games a lot of video gamers aria. I it's it was. All the places college yeah it's it's rampant on college campuses today. The U gamers and they don't go to the football games and basketball games in the dances in Vegas just it's taken over. The college campus like protect public remarkable disease I do a lot of things he could do in college and does it. A lot better than planes yet so actually no one student. Yeah actually had a like a series video game addiction and he told me that he plays for eighteen hour street yeah Malia. Tells what needle in a diaper yeah. They do I am not a kid you not create an official holiday I think it's. If you knew what was going and some of these campuses. Would break your heart. Coming up next we will be joined by Jill Gonzales from Wallace we're going to be talking about the health. With a lack of health of the housing market that's next on the financial exchange. Your radio that can enrich your life and help your portfolio. Well it's a financial exchange we have Barry Armstrong on the financial exchange radio network. Are you thinking about transferring your home to your children in order to protect you from the nursing home did you know that if you do you put at risk for your children's creditors including future divorces you really wanna write -- -- your former son or daughter in law just a buyback your own home not only does transferring for your home at risk they can also create huge capital gains tax when they sell it right now the federal capital gains tax can be as high as 23 point 8% and that's an addition to your state taxes there are better ways to own your real estate that can protected from the nursing home keep it away from your children's creditors avoid probate and not cause unnecessary Texas Todd -- you in the law firm of Cushing in Dolan have put together a brand new guide to the risks and rewards of real estate ownership this free guide we'll show you the best way to low mural real estate call now for your free copy an 8668485699. Don't put your home at risk 866848569. Million that number again is 8668485699. You've probably heard that it your spouse goes into a nursing home your primary residence is protected but did you know that he's only temporarily saved if something happens to you your house becomes 100%. At risk for the nursing home advance planning is ideal however if you do nothing else you need to have your basic state planning documents in place this will allow you to say some if not all of your assets last minute if you or your spouse enters a nursing home Cushing and Dolan is put together a brand new guide back to the basics it's a complete guide to date and asset protection planning call for your free copy now here's the number 8668485699. This guide will teach you. Fundamental basics that you need to know about eight planning 8668. Or 85699. This is a limited time offer so call now 8668. Or 856998668485699. Escape in asset protection plan and can be overwhelming word you start. How do you know what type of trust is right for you hide his very Armstrong and I'd like to talk to you about the law firm of Cushing handle it in creating the planes are folks in New England. For more than thirty years and they get so cute with all the different types of trusts available I can understand the confusion when it comes down to a state planning do you need to revoke Coble trust do you need an irrevocable. And what's the difference you need an expert advice and they put it together three guy that will help you decide the best plan we view this pre guide the differences between revoke global. And irrevocable trust is yours for the asking call 8668. Or 85699. They can even show you how it's possible to eliminate your state tax law that part call Cushing handle right now to get this straight guy 8668485699866. Eight or 8569. Mortgage rates are still at an all time low and make sense to take advantage of these rates when your refinancing or buying in the world leader bank is a local bank that is one of the largest mortgage lenders in New England with very competitive rates ask they're experienced staff about mortgage financing options and get a very competitive -- term fixed rate for your home whether refinancing or buying a new home work with leader bank colleagues 776917900. Or visit leader bank dot com leader bank went over one billion dollars last year to homeowners in the Commonwealth of Massachusetts. There is it true experts -- mortgage financing deal with a local bank today and call 8776917900. Or email -- loans as a leader bank -- come visit leader banks for all your home buying a refinancing needs 8776917900. That's 8776917908776917. B 900 or visible leader bank. Dot com. Valerie Armstrong knows who's claim that you care about. It's good for you do know Barry Armstrong. Believe me here for the financial exchange on the financial exchange. What you have work. Alan Shepard was one of the original NASA Mercury seven astronauts he became the first American. In the second person in the world to travel into space in the year 1961. In Jeff from Hanover new Ian king knew that. Both the eastern if Torre OK I was born. Fifteen minutes after the first and then there with a little something for you rounded out there there you go into maybe got to be trivia question. Our guest is Jill Gonzales from wallet hub she's here to talk to us about the health of the housing market. Two of the healthiest five housing markets. In the whole country are based in new England and they would include Hartford Connecticut and Boston Massachusetts. Hi Joseph how are you. I don't think so much for having me guys. Good advice to so tell us. In Europe. Paper they came out it's called the health of that housing markets in 25 big cities. How did Boston and Hartford do so well in these ratings. Well it really across the board here and I eat at Hartford at number five about this actually is third in the country right now. For a couple of things still a lot of times these studies I mean look at equity levels you know how much on average. You people have paid off on their mortgage bond here came back it only to New York City. Item 43 print and on average account being. Really paid up but we looked at a lot of other things in most of them having to do with mortgages that and underwater. Could carry it easy mortgage and and that's where both and and Hartford maybe expelled they're not letting anyone. Have a mortgage they're not letting people put down almost no down payment of a lot of great deal are doing. Even after the bubble it. Down by in the that there really number one and then Hartford queue comes close. They're really cracking down mortgages and making sure had it not settings Stanley that's for failure down the road. And PG tract home equity lines of credit at all in the study. Absolutely and we get lucky you. Boston didn't do as well there's the backhand or that people look Heidi home equity line of credit with in the dark match your area. That brings 24 out of its right side cities that one area where it and kind of epic game up. Now the same states got hurt very badly when I say the sand states and talking about Florida. Arizona. Ed Nevada are they still in traveler or they've bounced back. They have not been bounced back completely you know Nevada and terms that big cities that they get hearings when he said. Out of 25. Right about that are Tampa and Orlando it 24. And twenty vary. And at that spot before that if you done got a 22 to those stands deep. Still has some work to do. It is curious to see any other New England states in the top Tony firing New England cities. Yet partner out last. Yeah record number five bucks and at number one other than that I mean this didn't look at the 25 best. Eighties by any means it's it was kind of more at the nationals can't blame this in the government at some aren't doing about it. I'm going to be twenty that we looked mini dive deeper and you know. You know one of your stats is that the percentage of total mortgages obtained with no proof of income assets are debt is three times higher in Tampa. There is in Boston I didn't know he could still get mortgages like that. Gas though there's still a sport you as. EU mortgages. And no proof of income no assets paid our debt in about ten under 10% of mortgages are even able to be attain that way. You've mentioned Tampa. About 25%. Mortgages. You know. Come that way and open an income assets like that and that's why he'll be down about. A lot of those mortgages that are now under water and impact as well then get kind of the overall effect and it inbox has that figured out you know the last. Number of those eating like do you get about actually helping your whole housing market in the lungs and can elect and a bottom marketed. A precarious mortgages. You gotta have on him. Yeah because that means when the next time we go under recession. You not gonna have as many foreclosures right. Exactly added to carry it marketed. I think we have less than 10% equity in your mama underwater what is your aunt and stopped in his first and second respectively for the lowest numbers there. Would feel great study and I assume it's okay if we posted on our FaceBook page. Court. Or get thank you very much feel we appreciate it. That's Joseph Gonzales Wallace hub. Health of the housing market we will post and our FaceBook page FaceBook page of course is the financial exchange on FaceBook. 413. Chiming in saying very we can't give away mortgages to people that won't pay again. Subsidized by Uncle Sam I think we are judging by what I am in seeing in the lower market in the Springfield area. And I got to tell you for what three you're spot on because. These mortgages are still available I sold a house earlier this year as an investment property and mailed in Phoenix Arizona. And that person bought it. Through FHA. With no money down I am horrified that that is even an option on the table and she says 25%. That is in scenes let me tell you how they're doing because this this came up and and I was shocked. But you know I was a benefactor because I was selling this property. I paid a 100000 dollars forward back in the height of the crisis you know 20082009. Rented it for number of years. And decided to sell it earlier this year. I sell it. And the which means that at the closing I had to give the buyer back the down payment of three and a half percent. OK I had paid a commission because 6%. I. And all the buyer had to do was pay for the inspection. It's always so that's how they're dairy look they're in it through loophole they're getting it with no money down now the buyer do which is different than the last go round. The buyer had a job this guy buyer had good credit. At least good enough credit two to buy the house the the Federal Housing Authority. Was the entity that finance that purchase it wasn't a bank he wasn't. You would do there is no bank that would touch that little. But the federal government is still to this day even though we went through the crisis they're still financing those loans. That's that is just crazy to me that Betty that's basically then saying. That housing market won't get more than 3% that his phone there underwater for a while forward three making that point. And it's it if it's raising the issue of when we have our next correction. It's gonna cause a problem. 617 asking could explain why would or would not want a home equity line of credit. I'll tell you what I'd use them in the past amusing one right now it's a low cost method of borrowing money against the equity of your home. It's tax deductible. So I look at it as being better than say if forward cable certainly I look at it is being better than credit card loan it's a secured loan rates are what are you doing you're using the equity in your property. For another purchase I used it when the kids were in college. We use it to pay tuition bills I I don't use mine for anything it's not an ad equity in my that's Smart the carpet you know what. Having a home equity line of credit is a Smart thing to do because you never know when that emergencies gonna come off Susan powers thank you for joining us and dale. My name is very Armstrong I'm signing off for today but I'll be back tomorrow with another edition of the financial exchange rate here. And your favorite radio station. Security suffered through securities America and remember finreg SIPC and advisory service offering to securities America advisors are announced on representative I'm trying advisory group in the securities America companies are unaffiliated.